Haleon plc (LSE/NYSE: HLN), a global consumer health company, announced today that Alan Stewart has resigned from its board of directors. Stewart's departure, effective as of Sunday, September 26, 2024, was reported in compliance with the Listing Rules.
The news was disclosed through a Form 6-K filing with the U.S. Securities and Exchange Commission. While the filing did not specify the reasons for Stewart's resignation, he also stepped down from the board of Diageo plc, a multinational beverage alcohol company, on the same date.
Haleon, previously known as DRVW 2022 Ltd, is renowned for its consumer health portfolio, which includes popular brands like Advil, Sensodyne, and Centrum. The company focuses on various health categories such as oral health, pain relief, respiratory health, and digestive health, along with vitamins, minerals, and supplements.
Headquartered in Weybridge, Surrey, Haleon operates in the perfumes, cosmetics, and other toilet preparations industry. The company has not provided details on the appointment of a successor or the impact of Stewart's departure on its operations.
This announcement is part of a standard regulatory disclosure process to keep investors and the public informed about significant leadership changes within the company.
Recent strategic transactions by Haleon include a share purchase worth £230 million from Pfizer, completing a £500 million share buyback program for 2024, and divesting its nicotine replacement therapy business outside the U.S. to Dr. Reddy's Laboratories SA in a deal valued up to £500 million. The company also increased its equity stake in Chinese joint venture Tianjin TSKF Pharmaceutical Co. Ltd to 88%.
Financial institutions like Morgan Stanley, BofA Securities, and Goldman Sachs have provided various ratings on Haleon's stock price target, reflecting recent developments like the launch of Eroxon®, an FDA-cleared gel for erectile dysfunction treatment in the U.S.
InvestingPro Insights
As Haleon plc undergoes board changes, it's crucial to consider key financial metrics. InvestingPro highlights the company's market capitalization of $47.3 billion and impressive gross profit margins of 62.54% as of Q2 2024.
The stock's low price volatility and moderate debt level make it attractive to investors seeking stability. With a P/E ratio of 33.17, revenue of $14.23 billion, and a strong operating income margin of 21.39%, the company's financial health appears solid.
Haleon offers a dividend yield of 1.0% with significant dividend growth over the last twelve months. Investors looking for dividend stocks may find Haleon appealing.
These insights provide a comprehensive analysis of Haleon's financial standing amidst recent changes in its board of directors. For more detailed information, InvestingPro offers additional tips and metrics to guide investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Analysis: Haleon plc, a global consumer health company, saw Alan Stewart resign from its board of directors. This change, along with recent strategic transactions, impacts the company's operations and financial standing. Investors should consider key metrics like market capitalization, gross profit margins, price volatility, debt level, P/E ratio, revenue, and dividend yield when evaluating investment opportunities in Haleon.